AVP / VP, Credit Operations (Trade Finance)

Office Status: On - Site

Salary: $90,000 – $110,000

Job Summary

The AVP / VP, Credit Operations is responsible for ensuring the efficient and accurate operation of the Trade Finance business, with a focus on proactive risk management and compliance. The role involves overseeing daily operations, adhering to policies and procedures, and ensuring trade transaction processing runs smoothly. The individual will also support risk management, provide staff training, and participate in compliance initiatives across the team.

Key Responsibilities

General Responsibilities

• Adhere to bank policies and procedures, including trade finance policies, anti-corruption, anti-bribery, and conflict of interest guidelines.
• Provide expert advice and support to product teams, relationship managers, and clients.

Daily Operations

• Review and modify Letters of Credit (LC) and Standby Letters of Credit (SBLC) to ensure compliance with industry standards and best practices.
• Verify and counter-check documents against LC terms and conditions.
• Process and verify trade transactions in GDMS, ensuring completion at the International Trade Processing Center.
• Ensure all trade transactions are processed and that SWIFT messages are dispatched by the end of the business day.
• Maintain and update trade transaction records, ensuring proper documentation for the Accounting Department.
• Track trade settlement and finance due dates to ensure payments are made on schedule.
• Assist in the preparation of monthly and periodic statistical reports.
• Oversee the organization of business folders, ensuring safe and accessible storage of current documents, while relocating obsolete ones as necessary.

Compliance Risk Control

• Process Anti-boycott checks, OFAC sanctions, and KYC compliance checks as required.
• Identify, assess, monitor, and report compliance risks; maintain Key Risk Indicators (KRIs).
• Serve as the primary risk manager, responsible for identifying, escalating, and managing risks within the trade finance operations.
• Demonstrate risk awareness and compliance by following all relevant policies, procedures, and internal controls.

Staff Training and Backup

• Provide training to junior staff on trade operations and Uniform Customs and Practices (UCP) standards.
• Serve as a backup for team members during their absence to ensure smooth operations.

Additional Responsibilities

• Participate in compliance and risk management initiatives, including risk identification, control testing, and quarterly reporting.
• Stay current on trade finance regulations and industry developments.
• Contribute ideas to streamline business processes and improve operational efficiency.
• Update the team’s policies and procedures as required.
• Take on ad-hoc tasks and projects as assigned by the team head.